CBN to Delay MPC Rate Meeting Till April

Nigeria’s central bank will delay its next interest rate-setting meeting after a political spat between the Senate and Presidency over nominations for its Monetary Policy Committee, the governor said on Thursday.

Governor Godwin Emefiele told CNBC the meeting scheduled for March 19-20 would be delayed by about seven to 10 days, or at the latest until the first week of April.

Nigeria’s Senate has had a change of heart and will next week consider a report into nominations for the central bank’s monetary policy committee.

Senate president Bukola Saraki said this on Wednesday, a move that could end an impasse that has halted policy decisions.